Work starts on sold-out Digbeth housing scheme
Work has begun a new build residential development at Moseley Gardens in Digbeth that will see 67 one and two-bedroom apartments completed by next year.
Residential and commercial property developer, Prosperity Developments said all the apartments were snapped up within weeks of being launched to the market.
The five-storey development, which is being built on 13,000 sq ft of land at Moseley Street, has been funded by specialist lender BLG Development Finance.
JA Ball has been appointed as contractor and work is expected to be complete in 2020.
Joe Billingham, Chairman and CEO at Prosperity Developments, said: “The fact that all of the available apartments have been purchased entirely off-plan, demonstrates how desirable it is to live and invest in Birmingham city centre.
“As a specialist development finance lender, BLG’s understanding of the planning and property development journey is extremely helpful. We worked in partnership together on a similarly successful scheme – B1 in Edward Street – and very much look forward to delivering another development for Birmingham that we can all be proud of.”
Birmingham-based Prosperity Developments builds, develops and sells affordable buy-to-let apartments to new homebuyers and a global investor audience.
The company recently announced a new partnership with strategic and professional development manager, F3GROUP. The move is expected to allow the fast-growing developer to bring forward plans for a series of new residential development schemes nationwide.
The Prosperity Group of companies has a residential and commercial portfolio with a GDV of over £400 million, which includes 34 new build and conversion projects across the UK.
